FX.co ★ Elliott wave analysis of EUR/USD for June 12, 2023

We continue to look for the final spike lower to test our ideal target near 1.0525 to complete the correction in wave II and set the stage for a new impulsive rally that will ultimately take out the former peak at 1.1096.

A short-term break below minor support at 1.0690 will confirm that the expected spike lower towards 1.0525 is in motion.

Only an unexpected break above resistance at 1.0813 will indicate that wave II has already been completed and wave III is already in motion.